Forex Zone (Forex Zone)
Czech markets  |  December 18, 2012 10:09:11

Prime Minister pushes the Japanese central bank


Japanese Prime Minister Shinzo Abe, whose party won Sunday's parliamentary election to the House of Commons, had as one of the key points of his campaign gets a high fiscal spending (read money printing) and "unlimited" loosening monetary policy to achieve higher inflation. The main reason for these steps is deflation, which narrows the country for 15 years.

A new Prime Minister Abe hastened to invite you to the headquarters of his party governor of Bank of Japan (BoJ). Based on this meeting and election promises are expected this week BoJ announces further easing of monetary policy and is likely to introduce the 2% inflation target, which is a 100% increase from the current target of 1%.

We just ask how long this situation sustainable? At least until the ink and paper, or the patience and confidence of creditors. This may take but momentum still another 10 years. The worst thing is that this after 10 years of dysfunctional Japanese script copies the U.S., where they can be impact of this bubble burst more dramatic.
Neither we nor they can not forever indebted. It just comes once a loan for which the lender tells you potential resolute Sun

As regards developments in the monitored pair EUR / USD and the consolidation day yesterday showed character, which we expected. Contrary to our expectations, however, traded in a very narrow price range. Today, if the market starts out on either side of this narrow margin is expected to continue moving in the direction of penetration.

We see potential for both low test yesterday's session, as well as today's Asian session low. With equal probability but currently we see potential for high test today's Asian session.The market is really in balance and it is only a question of which side comes punctures. Us from the perspective of efficient market still comes more likely puncture direction below.

Currently (8:37) pair EUR / USD traded at 1.3165 price. Above this value we see significant resistance around 1.3225 and about 1.3257. Below the current market price is due to a lot of clear uptrend support. The major perceived about 1.3150 and about 1.3120 and 1.3070.

Read also:

China wants to keep a stable economic policy



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